This is the first in a series of articles leading up to the European Business Awards Gala Event on 27 May 2014. RSM is the lead sponsor of the European Business Awards, click here for more information on the programme.
This year’s European Business Awards will not only be a celebration of success, but also of variety, as the National Champions and Ruban d’Honneur recipient list is composed of 130 companies from over 20 different sectors across the business spectrum. Upon viewing the list of hopefuls there are a number of sectors which stand out: there are 17 technology companies, ten software firms and ten businesses in the environmental sector. However, by far the most prominent sector across Europe is manufacturing, with 23 businesses making it to the final.
This ties in with the Industrial Structure Report, released by the European Commission in February this year, which highlighted the significance of the manufacturing sector within the European Union. The report noted that manufacturing has a hugely important role in both the recovery and the growth of economies across Europe. Nevertheless, after analysing the performance of EU industrial and service sectors, it concluded:
“Manufacturing sectors have been hit more severely by the crisis than services: manufacturing, as a proportion of economic output, has declined significantly.”
The manufacturing sector is currently going through a very difficult period and the European Business Awards gives us the opportunity to celebrate the manufacturing companies that have bucked the trend of decline across the continent.
Conversely, the same EU report praised the growth of pharmaceuticals within the manufacturing sector, saying:
“The pharmaceuticals sector has experienced sustained growth since the start of the financial crisis.”
In fact, the pharmaceuticals sector is the only EU manufacturing sector that has increased its share of output since 2000. With regards to the European Business Awards, only five of the aforementioned 23 manufacturing companies are pharmaceutical, highlighting the range of businesses that exist in the competition, even within each sector.
With six manufacturing companies from the UK and Greece alone, some countries are pushing the sector forwards more than others. We can use the European Business Awards to share best practises and learn from those who have accomplished great things in trying times. The gala ceremony in Athens at the end of May will not only be a celebration of success and variety, but it will also highlight and recognise those who have experienced growth in difficult circumstances.